Car insurance right to withdraw

Mrs_Watkins

Hello,

So a quick post as I have searched the web and the information is to generic so hoping someone on here can help me. ( Thank you in advance).

So quick background

I was involved in a car accident on 14/06/2016 (non-fault) , this is still in the process of going through settlement as waiting for the third party to admit fault.

I have now decided to change my car as I am not comfortable driving this one and feel it gives me a good reason to buy a more practical family car.

So to add complication my renewal of the policy I was insured on ended on 23/06/2016 and I had already arranged with another provider to start cover on my current car, so technically I am not insured on the current car with the new provider while the old provider deals with the claim.

The car I am purchasing will be ready for collection on Monday and I have been advised I have a 14 day withdrawal option which with the above dates I would be in however the insurance confirm there will be a £50.00 administration fee for the set up of the policy that will still be required to be paid along with the cover I have already received i.e between 23/06/2016 and 04/07/2016 ( the 2nd party I understand).

I cant see this £50.00 on the forms I have for right to withdraw all the

Key Features of the Instalment Credit Agreement (Standard European Consumer Credit Information) says is :

!Other important legal aspects Right of withdrawal. You have a right to withdraw from the agreement before the end of 14 days beginning with the day after the day on which the agreement is made

Can anyone provide any advice or guidance on this please.

Thank you very much

rs65

I think you are reading the credit agreement. The insurance policy will have cancellation rights.

Mrs_Watkins

Thank you I will have another look at the policy document.